segmentation / targeting / positioning

Download Segmentation / Targeting / Positioning

Post on 13-Nov-2014

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Brief introduction to the STP process - A marketing strategy is based on expected customer behavior in a certain market. In order to know the customer and its expected buying process of segmenting, targeting and positioning is needed.

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  • 1. Segmentation - Targeting - PositioningMaximize your marketing impact Knowledge shared by

2. Who is your product for? Knowledge shared by 3. ...better yetWho is your product NOT for?Knowledge shared by 4. SegmentationTargeting Positioning ( Make a choice ) ( Increase relevance ) ( In the consumers mind ) Knowledge shared by 5. Get to know your customerKnowledge shared by 6. Segmentation is the process of understanding why people buyproducts and services like yours, which of those people you canbest satisfy and what you can do to make your product simplyirresistible to themKnowledge shared by 7. Se gmCr entite ati ria onDemographic: Age Income Marital Status Education Family Size Gender Geographic Location Social Status OccupationKnowledge shared by 8. Se gmCr entite ati ria onPsychographic: Brand Preferences Price Sensitivity Conservative/Liberal Enviro-Friendly Hobbies Lifestyle Service Preferences Spontaneity Inuenced by Peers Relationship ImportanceKnowledge shared by 9. Se gmCr entite ati ria onBehavioral: Purchase History Where They Shop Type of Store Preferences Association Memberships Internet Usage Impulsiveness Information Sources Buy Based on Trends Benets soughtKnowledge shared by 10. The fundamental philosophy behind customer segmentationis that customers will be more inclined to buy something ortake action when doing so addresses their specic needsKnowledge shared by 11. p le x amESegmentation by - life stage + benet sought 1st. moving in gettingbuying remodeling summer moving toapartment togetherchildren houseprojectcottage something smallerExample:Paint industryExisting focus andpotential opportunitiesuncovered by STP*.*(Segmentation - Targeting - Positioning) (opportunity)(industry focus) Knowledge shared by 12. p le x amEexisting target segment indooroutdoor$ surfacenishproductprice placepromotiontechnical properties price drivenpaint retailer segment alignedKnowledge shared by 13. p le x amE target segment (opportunity) nontoxic$ anti bacterialeco friendly product price placepromotionrelevant added valuespremiumrelated distributionsegment aligned (ex. baby equipment store)Knowledge shared by 14. Difcult & highBehaviourEase and cost of measurementPsychologicalDemographicsMore specic knowledge = Predictable behaviourequallyMore specic knowledge = Difcult and costly to acquire Easy & Low Low Predictability of consumer choice behaviour High Knowledge shared by 15. Best to use multiple approaches in order to identifysmaller, better-dened target groups.Start with a single criteria and then expand to other bases. Knowledge shared by 16. 5 criteria that indicate whether you have selected a viable target market1 2 34 5SizeExpected Growth Competitive Position Cost to Reach Compatibilityhow large is this even if the market is small, it low competition equals is this markethow aligned is thistarget market?may be protable if there are attractive market. accessible with market to our goals?Worth pursuing? indications that it will grow. our tactics? Knowledge shared by 17. Increase relevance Knowledge shared by 18. segmentsmarketing mixyourCOMPANY a Undifferentiated targeting strategyKnowledge shared by 19. marketing mix segments a byourCOMPANY c d Differentiated targeting strategyKnowledge shared by 20. marketing mix segments UNSERVEDayourCOMPANY UNSERVED UNSERVEDFocused targeting strategyKnowledge shared by 21. p le x amE marketing mix segments( Women ) ( 50+ ) ( Sun )( Men )Variation in Product, Price, Promotion & Place Knowledge shared by 22. How do you want to be perceived?Knowledge shared by 23. Developing the positioning strategy1. Understanding target consumers2. Analyzing Market/Competition3. Dening Competitive Advantage(s)4. Identifying relevant attributes5. Communicating and Delivering Chosen positionKnowledge shared by 24. The position should be differentpositioncredible relevant Knowledge shared by 25. Differentiation PointsPlace /Product /Promotion / Price / People /DistributionService Image Value Culturechoose one point of differentiation or a combination of many Knowledge shared by 26. Write your Positioning StatementFortarget consumerwhoneed or opportunity theproduct nameis a product categorythatkey benetunlike primary competition our productprimary differentiationKnowledge shared by 27. publicdesignrelationsdistribution competitionspriceserviceadvertising Position should be supported public in all touch pointsrelationsproductPOSeventsponsorshipmedia salesKnowledge shared by 28. A good positioning helps guide marketing strategy byclarifying the brands essence, what goals it helps theconsumer achieve, and how it does so in a unique way.Knowledge shared by 29. Great positions are unique, memorable and effectiveThe un-colaWe try harder The fashion watch Safety ( Volvo ) Knowledge shared by 30. Would you like to knowmore? Or simply want a second opinion Contact us. Cris Anthony Hdar CEO and Partner email: cah@plenus.dk Mobile (+45) 28 262 851